Shell in Gabon sold

LONDON: Carlyle Group has bought Royal Dutch Shell’s onshore assets in Gabon for $587 million (R7.3 billion).

For Shell, the deal marks a further step in a $30bn asset disposal programme to help cut debt after its $54bn acquisition of BG Group last year.

The company has sold assets for more than $15bn since 2016.

Shell’s Gabon assets will be incorporated into Carlyle- backed Assala Energy, which is led by former Tullow Oil executive David Roux and will focus on energy opportunities in sub-Saharan Africa, Carlyle said yesterday. – Reuters